As a woman have you ever thought about investing money? Well, by investing money one can earn a lot of passive income. Let me help you to understand the importance of investment.
First, I would like to introduce myself - I’m Ankita Kamat Founder of Frugal Beat. I feel that every woman should empower themselves and be financially independent.
Why should women start to invest money?
In countries like India, still we can witness gender discrimination. And when it comes to financial independence women themselves sometimes compromises in their life. But I want that women should come forward and take charge of their life.
There are so many passive income streams to make more money. Investing money is one of them. No matter whether you are a working woman or a housewife or a student, you can learn about investing money also learn about different passive income ideas.
Now I’m in my 20s and I’m also exploring many money making options to build wealth. I feel that one should explore multiple sources of income to grow financially.
7 Reasons should women start to invest money
In countries like India people think that investing money is only meant for males. But in reality investing money is nether meant for men nor women. This is for everyone who wants to grow financially in life.
Let me elaborate a few points which make you realize the importance of investing money as a woman.
1) Investment doubles your money in the long run
2) You can earn passive income without much efforts
3) You can achieve financial freedom
4) You can earn more than your monthly salary
5) You will gain practical knowledge about finance
6) Earning potential is more
7) You will learn to handle your money well
1.Investment doubles your money in the long run
Well, there are many scam schemes in the market when it comes to investments. But I’m not telling you opt for such false schemes where they assure of doubling money in a few days.
But there are also some long term genuine investment options like mutual funds. If you stay invested for a long period then you can double your money.
Here you must understand the concept of compound interest. Once you realize how the compound interest work to double your money you can choose the right investment option for you. But in investment always the risk factor is also important.
So before investing money check the background of the particular scheme. Do your own research then invest.
2.You can earn passive income without much efforts
I’m in my 20s and at the age of 22 my curiosity regarding investment increased as I wanted to explore many money making streams. Then I started to look for passive income ideas to make money.
Then I’ve realized that investing money can generate passive income without efforts. So I stated to invest in mutual funds when I stared to earn a regular income from my first job. Well, you must check your risk taking capacity before investing money.
Take calculated risks when it comes to making money from money. Initially you can invest a very little money. There are options where you can just invest 250 INR monthly. So take simple steps to make money without much efforts.
3.You can achieve financial freedom
Albert Einstein said “Compound interest is the 8th wonder of the world. He who understands it earns it, he who doesn’t pays it”
Well, you must see the depth of these lines and understand the importance of investing money. If you start investing money early then soon in the near future you will earn a lot of money and also you can achieve financial freedom. So if at all you want to achieve big financial goals then start to learn about investing money.
4.You can earn more than your monthly salary
In the beginning you may feel it difficult to learn about investment. But as you start to implement the things practically you will start to learn how investment works for you.
The more you explore the more you improve. But at the beginning have patience and start with a small.
Once you understand how investment helps to make money from money in future days you may also earn more than your monthly salary from your current job.
5.You will gain practical knowledge about finance
We may read thousands of books about finance but practical knowledge comes from implementing things what we read from books. I also read many financial books or money related books. But along with that I also implement them practically.
So you can also take such simple actions which will help you to gain practical knowledge about finance.
6.Earning potential is more
In a regular job we can earn fixed monthly salary. But in investments it is not like that. In fact there is no limit for earning money from investments. But it completely depends on factors like how smartly you act and the market condition.
So study about share market, learn how the market is going on. See which shares are in demand etc. Then make smart moves while investing your money.
7.You will learn to handle your money well
Some people struggle hard to handle their cash flow. But when you start do planning like investment, savings. You will learn to balance your spending habits.
You will start to calculate and prepare your budget. In the beginning it may seem difficult. But slowly you will start to learn money management.
Thus, there are many benefits of investing your money. So start to collect more information about investments and take steps to grow financially.
How has the coronavirus outbreak disrupted your life? And how are you dealing with it? Write to us or send us a video with subject line 'Coronavirus Disruption' to email@example.com